Housing supply

‘Four years’ until Dublin housing supply improves – industry survey

The supply of HOUSING in the capital will not improve for at least four years, believe a majority of professionals in the real estate sector.

This is despite a sharp increase in the number of housing starts over the past year, as the construction sector accelerated construction.

But the results of a survey released today by law firm Mason Hayes & Curran paint a gloomy picture of the ability to deal with the housing crisis in the short term, with 57 per cent believing it will take at least four years. .

Only 2% of professionals polled at the Future of Property conference in Dublin today believe that housing supply will improve in the capital over the next year.

And 43% think the country’s planning process is the biggest obstacle to providing needed housing in Ireland.

Most of those polled – 81% – do not think a change in government will result in a significant improvement in housing supply in the short term.

The current 2% cap on residential rent reviews is also not high enough in the short term, given the inflationary backdrop, according to 76% of respondents.

“There are significant challenges in housing and the government knows that,” Housing Minister Darragh O’Brien told the conference in a speech today.

“That’s why we launched our Housing for All plan which puts us on track to deliver 300,000 social, affordable and private homes by the end of 2030,” he added.

“Any long-term solution to our current crisis requires the whole system to pull in the same direction to achieve our common goal of building more, better, affordable homes and apartments, to buy or rent,” he insisted.

the Irish Independent reported earlier this week that buyers with incomes of €100,000 will be eligible for a government affordable housing scheme that will give them interest-free grants.

This infuriated the opposition.

Of the professionals surveyed by Mason Hayes & Curran, 29% considered improving resources for local authorities and An Bord Pleanála to be a top priority. A reduction in the number of judicial reviews of planning permits was seen by 43% as a priority.

House price growth hit a seven-year high, with the cost of a home jumping 15.2% in the year to March, figures showed this week.